Inflation slowed in July, showing Fed's rate hikes are working
Consumer prices rose 8.5% over the past 12 months, marking a slowdown but still painfully high for millions of Americans.
Consumer prices rose 8.5% over the past 12 months, marking a slowdown but still painfully high for millions of Americans.
Former President Trump to be deposed in New York; Inflation impacting back-to-school shopping
Americans are finally seeing relief at the pump. The average price of gas has fallen for more than 50 straight days, and the national average is on the verge of falling below $4 per gallon. Errol Barnett takes a look.
Investors are awaiting the July Consumer Price Index report for signs of whether inflation has started to ease after hitting another four-decade high in June. CBS News' Tanya Rivero and Elaine Quijano speak with Rick Newman, senior columnist for Yahoo Finance, about the state of the economy.
The U.S. economy added 528,000 jobs in July. However, the GDP has shrunk $125 million since the end of 2021, despite adding 3.3 million jobs in that time. Washington Post global economics correspondent David J. Lynch joins CBS News to help make sense of the contradictions.
CBS News' Tanya Rivero sits down with Joe Saluzzi, the partner and co-founder of Themis Trading, to discuss the state of the economy, including what's driving U.S. stocks, the significance of an upcoming consumer prices report and ongoing recession concerns.
After long negotiations and more than 24 hours of voting, the Senate passed a spending bill aimed at tackling climate change, reducing drug costs and addressing inflation on Sunday along strict party lines. Congressional correspondent Nikole Killion details path to the final vote.
The bill's passage is a significant achievement for Democrats as they look to maintain their hold on Congress in the November midterm elections.
Senators consider Inflation Reduction Act in rare Saturday session; Youth wrestling program teaches kids skills on and off the mat
The Senate's nonpartisan rules arbiter has dealt a blow to Democrats' plan for curbing drug prices.
Senate Democrats announced Thursday night they have reached a consensus on the Inflation Reduction Act. Sen. Kyrsten Sinema of Arizona initially harbored concerns about the bill, but said Thursday she is ready to vote in favor of it after changes were made to the tax and energy provisions. CBS congressional correspondent Scott MacFarlane discusses what this bill means for the Democrats.
Senate Democrats are on the verge of a major legislative victory on a spending package aimed at tackling climate change, expanding health care and capping drug prices. Scott MacFarlane explains what's in the bill.
CBS News' Debra Alfarone and Lana Zak sit down with CBS News chief White House correspondent Nancy Cordes to discuss how White House officials are responding to the latest jobs report, the reaction to Arizona Sen. Kyrsten Sinema's nascent support for the Inflation Reduction Act and why White House officials have summoned the Chinese ambassador.
Lawmakers will begin the voting on President Biden's Inflation Reduction Act in a rare weekend session. CBS News congressional correspondent Scott McFarlane joins Lana Zak and Debra Alfarone with the latest.
New data on hot U.S. jobs market suggests Fed won't be reining in its aggressive rate hikes anytime soon.
The U.S. added 528,000 jobs in July, more than double what economists had predicted. With that boost, the unemployment rate fell to 3.5%, back to pre-pandemic levels and the lowest it's been since 1969. Daniel Zhao, senior economist at Glassdoor, joins CBS News to discuss what the report indicates about the state of the economy.
Sen. Kyrsten Sinema, a centrist who was seen as the pivotal vote, said in a statement that she had agreed to changes in the measure's tax and energy provisions.
One gardener estimates she's saving $400 per month by growing her own vegetables.
As inflation pushes grocery prices to a four-decade high, some Americans have turned to growing their own food to shrink their grocery bill. Janet Shamlian takes a look.
First-time unemployment claims rose the last week of July ahead of the monthly jobs report being released Friday. Despite interest rate hikes and inflation fears, a new survey shows mortgage rates are dropping. The 30-year fixed rate dropped below 5%. CBS News business analyst Jill Schlesinger explains all that means for the state of the economy.
The cost of a gallon of gas continues to fall in the U.S. Ellen Wald, senior fellow at the Atlantic Council's Global Energy Center, joins "CBS News Mornings" to discuss what's helping ease the pain at the pump.
Before Congress departs on summer recess, Senate Democrats are attempting to pass a $700 billion spending bill aimed at climate change, health and inflation assistance. In a split Senate, Sen. Kyrsten Sinema's vote is still trying to be secured. CBS News congressional correspondent Scott MacFarlane reports from Capitol Hill.
The cost of rent is on the rise in nearly 400 cities across the U.S. The national average has risen more than 25% since June 2021. Brian Carberry, senior managing editor at apartmentguide.com, joins CBS News to discuss what's driving prices up and what cities you might want to avoid if you'll looking for cheaper rent.
CEO Vlad Tenev says soaring inflation and cryptocurrency crash is discouraging customers from trading.
Some analysts say now is the time for employees to be asking for a pay raise. CBS MoneyWatch reporter Megan Cerullo joins Debra Alfarone and David Begnaud to discuss why and review tips for asking for a salary increase - plus what to do if your employer says no.
A ceasefire in Lebanon between Israel and the Iran-backed militant group Hezbollah appeared to be holding several hours after it began.
If confirmed as trade representative, Jamieson Greer would be responsible for negotiating directly with foreign governments on trade deals and disputes.
In the wake of Hurricane Helene, more than 2,000 landslides displaced families in western North Carolina. They are waiting to find out if rebuilding is even possible or safe.
Tom Homan and Texas Gov. Greg Abbott served meals to troops stationed in Eagle Pass and Edinburg as part of Operation Lone Star.
An Australian police officer who Tasered 95-year-old great-grandmother Clare Nowland in her care home has been found guilty of manslaughter.
The cartel allegedly uses fishing boats to smuggle drugs and migrants — and catch tons of red snapper, a commercially valuable but vulnerable species.
Torrential rain unleashed flooding and landslides on Indonesia's Sumatra island, killing 20 people and leaving at least two others missing.
A professional treasure hunter has been charged in the theft of the 37 gold coins stolen from the wreckage of the 1715 Treasure Fleet.
Why is Thanksgiving traditionally associated with turkey and other specific foods? We asked a history expert why we eat what we do on the holiday.
Why is Thanksgiving traditionally associated with turkey and other specific foods? We asked a history expert why we eat what we do on the holiday.
Forensic pathologists hope advanced DNA testing technology will enable them to attach names to all the unidentified people at the Honolulu Medical Examiner's Office.
A federal panel has been meeting for months to draft recommendations.
Jean Rather, the wife of former longtime CBS News anchor Dan Rather, died Tuesday at the age of 89 following a battle with cancer.
Harvey Weinstein's lawyers filed a legal claim alleging that he is receiving substandard medical treatment in unhygienic conditions while in custody at Rikers Island.
The cartel allegedly uses fishing boats to smuggle drugs and migrants — and catch tons of red snapper, a commercially valuable but vulnerable species.
President-elect Donald Trump is proposing sweeping new tariffs on Mexico, Canada and China as soon as he takes office. Here's why.
Consumers could face higher prices for electronics if President-elect Donal Trump hits Canada, Mexico and China with new tariffs, Best Buy CEO said.
Americans paid an estimated $842 million in fees to cover advance loan refunds or refund anticipation checks last year.
In some parts of the U.S., parents pay more than $30,000 annually for infant care at a center, federal data shows.
Dr. Jay Bhattacharya, who has faced restrictions on social media platforms because of his views, was a critic of pandemic lockdowns and vaccine mandates.
If confirmed as trade representative, Jamieson Greer would be responsible for negotiating directly with foreign governments on trade deals and disputes.
Alexander Smirnov, an FBI informant, was accused of lying about President Biden and Hunter Biden and now faces new charges of tax evasion.
Americans are most thankful for family and friends, which may be why they'll try to steer away from politics at Thanksgiving.
Claudia Sheinbaum said Mexico suffered from an influx of weapons smuggled in from the United States, and that drugs were a U.S. problem.
Why is Thanksgiving traditionally associated with turkey and other specific foods? We asked a history expert why we eat what we do on the holiday.
If you're looking forward to a delicious — and safe — Thanksgiving dinner with loved ones, here's how to cook your turkey and keep your leftovers safely.
A federal panel has been meeting for months to draft recommendations.
Dr. Jay Bhattacharya, who has faced restrictions on social media platforms because of his views, was a critic of pandemic lockdowns and vaccine mandates.
A New White House proposal would make Medicare and Medicaid cover GLP-1 weight loss drugs for people who are obese. The move would expand affordable access to the drugs to some 7.4 million people. Dr. Jon LaPook has more.
Torrential rain unleashed flooding and landslides on Indonesia's Sumatra island, killing 20 people and leaving at least two others missing.
The cartel allegedly uses fishing boats to smuggle drugs and migrants — and catch tons of red snapper, a commercially valuable but vulnerable species.
An Australian police officer who Tasered 95-year-old great-grandmother Clare Nowland in her care home has been found guilty of manslaughter.
The plan is to get close enough to tranquilize the animal with a hypodermic needle, airport officials said.
Claudia Sheinbaum said Mexico suffered from an influx of weapons smuggled in from the United States, and that drugs were a U.S. problem.
Harvey Weinstein's lawyers filed a legal claim alleging that he is receiving substandard medical treatment in unhygienic conditions while in custody at Rikers Island.
Irish band The Script continues to inspire with hits like "Hall of Fame," while moving forward after the loss of guitarist Mark Sheehan. Danny O'Donoghue talks to Natalie Morales about the band's journey, and how boxing helps him cope.
Actor Danielle Pinnock joins "CBS Mornings" to talk about her role in the hit CBS comedy "Ghosts," where she plays a spirited 1920s jazz singer with plenty of sass.
From Emmy wins to Oscar nods, Colman Domingo reflects on his career and dives into his latest role in Netflix's "The Madness."
Brittney Griner and her wife Cherelle welcomed their son, Bash, in July. Now, they're sharing adorable family photos and looking ahead to their first Christmas together.
British phone company Virgin Media O2 has developed an AI-generated grandmother to talk to scammers all day and waste their time so you don't have to. CBS News Confirmed executive producer Melissa Mahtani has more on the "grandma" and how you can protect yourself from phone scams.
Starbucks managers forced to rely on manual systems to handle baristas' pay, but customers unaffected.
From labor shortages to environmental impacts, farmers are looking to AI to help revolutionize the agriculture industry. One California startup, Farm-ng, is tapping into the power of AI and robotics to perform a wide range of tasks, including seeding, weeding and harvesting.
More than one third of travelers says they've incorporated artificial intelligence into their travel planning, according to a recent survey. CBS News compared how efficient booking a trip with the help of AI is compared to doing the research yourself.
Microsoft said it's investigating an issue impacting access to Microsoft 365 and its Teams app.
Forensic pathologists hope advanced DNA testing technology will enable them to attach names to all the unidentified people at the Honolulu Medical Examiner's Office.
At the Johnson Space Food Systems Laboratory in Houston, NASA scientists develop dishes – freeze-dried, heat-stabilized, or irradiated – to serve on the International Space Station. Correspondent David Pogue checks out what's on the menu in Earth orbit.
This winter, the National Oceanic and Atmospheric Administration predicted above-average temperatures throughout the U.S. because of a "slowly developing" La Niña pattern. CBS News Sacramento meteorologist Tracy Humphrey reports on the changing winter conditions.
The only emperor penguin known to have swum from Antarctica to Australia was released at sea 20 days after he waddled ashore on a popular tourist beach.
A volcano erupted in southern Iceland, near the town of Grindavík and the Blue Lagoon spa, marking the region's seventh eruption in a year.
Forensic pathologists hope advanced DNA testing technology will enable them to attach names to all the unidentified people at the Honolulu Medical Examiner's Office.
The cartel allegedly uses fishing boats to smuggle drugs and migrants — and catch tons of red snapper, a commercially valuable but vulnerable species.
An Australian police officer who Tasered 95-year-old great-grandmother Clare Nowland in her care home has been found guilty of manslaughter.
The Los Angeles County man, who was trying to board a flight to Australia, faces one count of intent to distribute methamphetamine.
More than 3,000 fake Gibson guitars were seized by U.S. Customs and Border Protection in what authorities are calling the largest seizure of counterfeit musical instruments at the massive Los Angeles-Long Beach Seaport.
The Sombrero galaxy, named for its resemblance to the Mexican hat, is about 30 million light-years from Earth.
Marc and Sharon Hagle, both making their second space flight, were among the passengers for the NS-28 mission.
The ninth Blue Origin space tourism flight launched from West Texas Friday morning. CBS News space consultant Bill Harwood and space expert Scott Heidler offered analysis of the flight.
President-elect Donald Trump attended SpaceX's sixth flight test of its Super Heavy-Starship on Tuesday with CEO Elon Musk. The burgeoning friendship between the two men played a key role in Trump's reelection, with Musk now set to run a government efficiency agency in the coming months. CBS News political reporter Jake Rosen and Politico aviation reporter Oriana Pawlyk join "America Decides" with more.
President-elect Donald Trump was on hand with Elon Musk for the sixth test flight of SpaceX's huge Super Heavy-Starship rocket.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
See some of convicted serial killer Rodney Alcala's photographs that were discovered by detectives in a Seattle storage locker.
The seesaw marriage between the former ballerina and her much older husband only lasted four years, until she shot him on Sept. 27, 2020.
A look at the evidence in "The Dexter Killer" case; plus, newly revealed letters from the man police say wanted to be like fictional serial killer Dexter Morgan.
Live performances are in full swing this summer. Scroll through our concert gallery, featuring pictures by CBS News photojournalist Jake Barlow and photographers Ed Spinelli and Kirstine Walton.
In an exclusive interview, 23andMe CEO Anne Wojcicki discusses the challenges of losing family, massive company changes, and her vision for the future.
People are beginning to return to their homes in southern Lebanon after the ceasefire between Israel and Hezbollah took effect and appeared to hold in its initial hours. CBS News contributor Andrew Boyd has more on the stop in fighting.
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